HYDERABAD, APR 20: The board of directors of VisualSoft Technologies Ltd (VTL), has announced a 2:1 bonus issue keeping in tune with market expectations. The record date for this purpose is yet to be fixed.The board meeting in Mumbai on Thursday also considered preferential issue of 5 lakh equity shares of Rs 10 each to the FIIs and mutual funds subject to the statutory approvals. In a bid to further obtain the shareholders approvals to the issue the company has called for an AGM to be held in Hyderabad on May 27, 2000.VTL board has also recommended a dividend at the rate of Rs 3 per share (30 per cent) for the year 1999-2000. According to the audited financial results announced for the year ended March 31, 2000 VTL has reported a total income of Rs 70.23 crore a 127 per cent growth over previous year.The turnover include the product sale of Rs 33.38 crore during the year under review and Rs 11.54 crore for the last quarter in the year. The company has recorded a net profit of Rs 28.18 crore a jump of 142 per cent over last year. During 1998-99, VTL had reported a turnover of Rs 30.81 crore and a net profit of Rs 11.61 crore.The last quarter in the year under review, VTL has reported a total income of Rs 22.87 crore as against Rs 10.83 crore for the same period in the last year.
